The iron dumped off the coast of Haida Gwaii was primarily a bid to sell carbon credits – not a scientific experiment , according to a marine conservation society working on B.C.’s Pacific coast.
The Living Oceans Society obtained correspondence between the Old Massett village council, which is running the project, and the Northern Savings Credit Union, which lent the council $2.5 million to finance it. The documents were made available on the society’s website and show the lender was aware the ocean restoration project involved selling carbon credits.
“What is illegal, under international law, is dumping with the intent to obtain commercial gain,” said Living Ocean’s executive director Karen Wristen in a phone interview from Bowen Island.
“What’s very clear from the due diligence letter the bank sent back to the council, is they had been told the purpose of the project was to sell carbon credits.”
She believes the Haida Salmon Restoration Corp., which is owned by Old Massett, is trying to create a carbon credit market through the plankton bloom – which it claims will capture and retain carbon dioxide – while enhancing the local fishery. Under the United Nation’s London Convention “legitimate scientific research” is permitted, while dumping toxins at sea for other reasons is prohibited.
Experts have pointed out that clause is open to broad interpretation.
John Disney, the economic development officer of the Village of Old Massett and CEO of the salmon restoration company, could not be reached for comment Sunday. However he insisted in a news conference Friday the project does not violate any Canadian laws or international conventions.
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The loan was approved for the purposes of starting up a sustainable ocean restoration company, but in some of the credit union’s comments in the loan approval papers, the lender notes German import/export company Schoppmann is identified as a link to potential buyers of carbon offset credits. Northern Savings requested the proponents investigate whether Schoppmann can handle those transactions, and to assess the market for those credits.
Last week it was announced the Haida Salmon Restoration Corp. had scattered 100 tonnes of iron sulphate and 20 tonnes of iron oxide in the international waters off the Haida Gwaii archipelago in what would become known as the world’s largest iron fertilization project.
The iron created a 35,000-square-kilometre plankton bloom when added between July and September. Proponents argue that fish feeding on plankton will grow in number and size due to the increase in food supply.
The highly controversial practice of ocean fertilization has been called “audacious” and the previous largest experiment involved 10 tonnes of iron. Some scientists have said the experiment could increase knowledge of how much iron is needed to improve salmon stocks, but others are highly critical, arguing experiments of this nature could damage ecosystems and ultimately reduce fish populations by creating oxygen-deficient marine environments and increasing ocean acidity.
“There is no credible scientist in the world stepping forward to defend Old Massett’s project,” Wristen said. Fuelling critics is the fact the project is being spearheaded by California businessman Russ George, a highly controversial figure. Britain’s New Scientist last week called George “rogue climate hacker” for his involvement with similarly unorthodox ventures, including a 2007 attempt at ocean fertilization off the coast of the Galápagos Islands.
“Phytoplankton absorbs carbon dioxide as it grows, just like most plants do, but there’s no evidence it retains it and takes it to the bottom of the sea bed, which is what Russ George claims,” Wristen said.
The loan approval documents, dated Feb. 28, 2011, also outline several concerns with the project’s scientific background. Those included the fact that marine research institutes oppose large-scale ocean fertilization projects, that questions have been raised about possible side effects, and that it was unclear whether it would be considered polluting under international law.
The documents also question whether George, the environmental entrepreneur at the helm of the project, or his company, Planktos Corp., are actually “recognized as a world leader” and recommends the proponents do considerable research to address the problems to enhance due diligence on the project.
“As your trusted banker and adviser we would recommend you give serious consideration to the above and satisfy yourselves with appropriate answers that would allow you to proceed,” it states.
Nonetheless, the bank approved the loan, signed by account manager Barry Pages, indicating it was confident the money would be repaid. The Old Massett community is on the hook for the $2.5 million.
In a statement last week, the Council of the Haida Nation and the Hereditary Chiefs Council made clear they are not involved in the project.
“The consequences of tampering with nature at this scale are not predictable and pose unacceptable risks to the marine environment,” Haida Nation president Guujaaw said in the statement.
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